Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Yes to both posts.
I agree with those suggesting that construction will continue despite the Covid front.
Sp wise, it is quite a long time to the next trading update.
I cannot readily conceive of a major shareholder seller here. Yet we know a holdings RNS, rightly or wrongly, can affect the sp. Somebody may build a stake.
CD&R Would have gone over SIG with a fine tooth comb before investing millions into the company which means they already new what he results would more than likely reflect............obviously they see it as a very good recovery stock, otherwise they could have gone anywhere else with their millions
The results announced were a little better than the company had predicted but yes... I was amongst those who expected even better news. I was particularly surprised by 53m loss.
I think that SIG opted to invest, hire, train and invest to chase business out there. They didn't cut back costs as much as they could have done. You to spend money to recapture market share and make much more money later on.
I trust the new board, the talented people who returned to the business and I trust CD&R. They didn't invest massively at 25p for nothing. This is a recovery play and the omens long term are good. I can see this at 100p or even 200p as some seasoned investors predicted recently. But it will take time...
Though in the interests of balance I should say that it is apparent that some expected more from the last results. But in fact they were pretty much in line with what the company said they would be. And there was no 'sparkle' in the verbage.
Agree your post., thankyou. There is an awful lot of work to put in, seeking a reduction in losses during the current period. Investors, including of course the major shareholders who supported the capital raise at the price, were aware of that.
Great posts Raleigh.
My personal view is that CD&R are not interested in a full take over. If they were, they would have taken their full allocation of shares at 25p -- not make their contribution conditional to other investors joining in. Or they would sweep more shares now.
I don't think CD&R can buy 100% of every single company they get involved in. I imagine they want to hedge their funds, just like we do with shares. Also, I know very little about the construction sector but I imagine it's worth having strategic partners/allies such as IKO. For CD&R investment to bear fruit, this company needs hard work, vision and allies -- not infighting.
From here on, every trading update and result will be better than the one before I believe.
I have little doubt that C D and R intend to better their position. You seem to be covering most options.
Gain control by buying IKO shares and take it for themselves.
Expanding the company by providing the funds for acquisitions.( and then take it? )
And as a sort of afterthought, helping SIG through a recovery process.
In the meantime, we have seen no holdings RNS yet from CD and R in line with option 1.
In the absence of anything different happening, this remains a recovery situation.
Just been busy.......Here’s a thought there is William Hill being bid for by a US peer which held a 20% of their US division. That 20% holding now appears very useful in the now agreed acquisition- as they were going to ditch the JV in the US had the deal
not gone through. 20% or 25% is leverage - just wait and see what CD&R do next. My guess they will provide debt to SIG to buy other foundering U.K. construction materials groups.......! Still only 25p I add - so no great recovery holding - this will drift like a leave on a pond for some time I’m afraid.....
Union’s opinions are up and down like a pogo stick. He gets very excitable when there is obvious downward pressure and turns into the ultimate doomsayer. Imo his credibility has gone after the recent scaremongering and swing from consistent daily posts to nothing for two days when the sp has recovered. No doubt he’ll return soon should the sp falter. Maybe he’ll argue it still has..
Where is ever body union prof Tyra etc missing you all lol